Salesforce to Benefit ‘Significantly’ From Generative AI Initiatives in Coming Years, Wedbush Says

/ / Technology /

Salesforce (CRM) is poised to benefit “significantly” from its generative AI initiatives on the heels of “solid” fiscal Q4 results., Wedbush said Thursday in a report. “One of the biggest initiatives in the field is around monetizing the AI theme” in the “massive installed base,” Wedbush said. “We believe this is a major land grab opportunity that could significantly benefit [Salesforce] over the coming years and could increase overall revenue by $4 billion plus annually based on our estimates and field work by 2025.” Wedbush maintained its outperform rating on the stock and kept the price target at $325. “We continue to believe the risk/reward on [Salesforce] is compelling at current levels as the growth and margin story play out over the next 12 to 18 months,” Wedbush said. “The installed base opportunity is still underappreciated by the Street in our opinion as the [Salesforce] machine takes hold over the […]

Salesforce to Benefit ‘Significantly’ From Generative AI Initiatives in Coming Years, Wedbush Says Read Post »

Snowflake Focus on AI Addresses Product Concerns, Macquarie Says

/ / Technology /

Snowflake’s (SNOW) focus and investment in artificial intelligence addresses concerns about its product roadmap, Macquarie said in a note Thursday. Chief Executive Officer Frank Slootman’s departure was shocking, compounded by lower-than-expected fiscal 2025 guidance, the investment firm said. But, the firm welcomed the appointment of Sridhar Ramaswamy, senior vice president of AI, to the top job. “Nevertheless, we believe Snowflake’s product and sales organizations are also world-class and that its drivers are durable even without Mr. Slootman in charge,” the investment firm said. Macquarie upgraded Snowflake to outperform from neutral and lifted the price target to $205 from $182. Snowflake shares slumped nearly 19% in recent trading.

Snowflake Focus on AI Addresses Product Concerns, Macquarie Says Read Post »

Nvidia Stock’s Rally Is Amazing, but Not Extraordinary — Barrons.com

/ / Technology /

By Teresa Rivas This leap year, it seems only a matter of time before someone suggests renaming Feb. 29 as Nvidia Day. At this point, Nvidia is a name inescapable to investors. Yet however important the artificial intelligence poster child is, the stock’s gains also reflect the state of investor sentiment more broadly. If that shifts, it could affect Nvidia’s ability to power a continuing rally in stocks. That isn’t to belittle Nvidia’s achievements and financial gains. It is a huge winner as the source of the graphics processing units other companies use for their artificial intelligence software. “It’s Nvidia’s world, and we’re just living in it,” wrote PennMutual Asset Management investment analyst Jackie Rogowicz in a research note. With a market capitalization that rivals the size of Canada’s economy — one that doubled from $1 trillion to $2 trillion in eight months — Nvidia has shown that the biggest

Nvidia Stock’s Rally Is Amazing, but Not Extraordinary — Barrons.com Read Post »

Dell Technologies Delivers Fourth Quarter and Full Year Fiscal 2024 Financial Results

/ / Technology /

Dell Technologies Delivers Fourth Quarter and Full Year Fiscal 2024 Financial Results PR Newswire ROUND ROCK, Texas, Feb. 29, 2024 News summary — Fourth quarter revenue of $22.3 billion and full-year revenue of $88.4 billion — Full-year operating income of $5.2 billion and non-GAAP operating income of $7.7 billion — Full-year cash flow from operations of $8.7 billion — Full-year diluted earnings per share of $4.36 and non-GAAP diluted earnings per share of $7.13 — Announcing a 20% increase in annual cash dividend to $1.78 per common share ROUND ROCK, Texas, Feb. 29, 2024 /PRNewswire/ — Full story Dell Technologies (NYSE: DELL) announces financial results for its fiscal 2024 fourth quarter and full year. Fourth quarter revenue was $22.3 billion, down 11% year over year. Operating income was $1.5 billion and non-GAAP operating income was $2.1 billion, up 25% and down 1% year over year, respectively. Cash flow from operations

Dell Technologies Delivers Fourth Quarter and Full Year Fiscal 2024 Financial Results Read Post »

Dell Technologies Q4 2024 Adj EPS $2.20 Beats $1.73 Estimate, Sales $22.30B Beat $22.16B Estimate

/ / Technology /

Dell Technologies (NYSE:DELL) reported quarterly earnings of $2.20 per share which beat the analyst consensus estimate of $1.73 by 27.17 percent. The company reported quarterly sales of $22.30 billion which beat the analyst consensus estimate of $22.16 billion by 0.62 percent. This is a 10.94 percent decrease over sales of $25.04 billion the same period last year.

Dell Technologies Q4 2024 Adj EPS $2.20 Beats $1.73 Estimate, Sales $22.30B Beat $22.16B Estimate Read Post »

Dell’s Results Boosted by Demand for AI-Optimized Servers — WSJ

/ / Technology /

By Denny Jacob Dell Technologies reported a double-digit increase in adjusted net income for the fourth quarter as demand for its AI-optimized servers heated up. The PC-maker on Thursday said its bottom line, adjusted for one-time items, increased 22% for the quarter ended Feb. 2. Its top line declined to $22.32 billion, but came in slightly better than Wall Streets forecasts. Our strong AI-optimized server momentum continues, with orders increasing nearly 40% sequentially and backlog nearly doubling, said Chief Operating Officer Jeff Clarke. The Round Rock, Texas-based companys Infrastructure Solutions segment increased 10% overall from the AI boost, while storage revenue rose 16%. Dell said orders for its AI-optimized servers came from a wider range of customers and geographies. Here is how Dell did in the fourth quarter: — Revenue declined 11% to $22.32 billion from $25.04 billion in the year-ago quarter. Analysts expected $22.17 billion. — Adjusted net income

Dell’s Results Boosted by Demand for AI-Optimized Servers — WSJ Read Post »

Dell Fiscal Q4 Non-GAAP EPS Increases, Net Revenue Drops; Raises Annual Dividend

/ / Technology /

Dell Technologies (DELL) reported fiscal Q4 non-GAAP earnings late Thursday of $2.20 per diluted share, up from $1.80 a year earlier. Analysts polled by Capital IQ expected $1.72. Net revenue for the quarter ended Feb. 2 was $22.32 billion, down from $25.04 billion a year earlier. Analysts surveyed by Capital IQ expected $22.17 billion. Dell said it’s raising its annual dividend by 20% to $1.78 per share, with $0.445 per share for the first quarterly distribution payable on May 3 to shareholders on April 23. The company’s shares were rising past 15% in recent Thursday after-hours trading.

Dell Fiscal Q4 Non-GAAP EPS Increases, Net Revenue Drops; Raises Annual Dividend Read Post »

CFRA Lowers Rating On Shares Of Asml Holding N.v. To Buy From Strong Buy

/ / Technology /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our target price by $99 to $1,033, 32x our ’25 EPS view, above peers on ASML’s leading competitive position and sizeable backlog (EUR39B) and above its 3-year average (~29x) on accelerating demand for advanced equipment to support AI applications. We raise our ’24 EPS view by EUR0.36 to EUR18.76 and raise ’25’s by EUR0.35 to EUR29.90 as our outlook for the semiconductor industry continues to broadly improve across key memory and logic applications. Our downgrade is valuation-based, as shares are up ~15% since the publishing of our previous note (Jan. 24) and up ~30% year-to-date. We believe shares have risen largely on a better-than-expected backlog position entering ’24, with further support coming from strong peer earnings performance and positive industry commentary. Still, we think much

CFRA Lowers Rating On Shares Of Asml Holding N.v. To Buy From Strong Buy Read Post »

HP (NYSE:HPQ) Q1 2024 Earnings Conference

/ / Technology /

The following is a summary of the HP Inc. (HPQ) Q1 2024 Earnings Call Transcript: Financial Performance: HP reported Q1 2024 revenue of $13.2 billion, a decrease of 4-5% in constant currency, with both Personal Systems and Print revenue seeing a decrease. Despite the revenue decline, HP delivered non-GAAP operating profit of $1.1 billion, an increase of 5%, and non-GAAP diluted net earnings per share increased 11% to $0.81. HP’s gross margin was at 21.9%, an increase due to improved commodity and logistics costs, yet still affected by competitive pricing. HP returned $775 million to shareholders, including $500 million in share repurchases and $275 million in dividends, and plans to continue active share repurchases for the rest of the year. Business Progress: HP has made advancements in key growth areas, including gaming, Orco solutions, and consumer subscriptions, with a company-wide AI strategy being successfully implemented. The company plans continues transitioning

HP (NYSE:HPQ) Q1 2024 Earnings Conference Read Post »

Scroll to Top